India to provide 1 Billion dollar line of credit to Russia’s far East

Vladivostok: India will provide one billion dollar line of credit to further contribute to the development of the Russian Far-East.

This was announced by Prime Minister Narendra Modi on Thursday, 5 September 2019. He was addressing the Eastern Economic Forum here.

Modi said this is the first time that we are giving line of credit to a particular region of a country. My Government’s Act East Policy has actively engaged East Asia and today’s announcement will prove to be the take-off point of Act Far East and it is my firm belief that this step is also adding a new dimension to our economic diplomacy, the Prime minister said.

Prime Minister and Vladimir Putin, President of Russia, visit the Zvezda Shipbuilding Plant during his visit to Vladivostok (September 04, 2019)

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Newsroom24x7.com is edited by Lalit Shastri. He is is an Indian journalist, columnist, wildlife film maker, birder, and environmentalist. He is a former Principal Correspondent of The Hindu and a Special Correspondent of The Asian Age - two of India's leading English newspapers. He quit a corporate job to investigate the causes leading to the 1984 Bhopal gas disaster and subsequently became a full-time journalist. He has extensively covered from ground zero for The Hindu, the riots that followed the demolition of the Babri Mosque in Ayodhya and repeated attacks by Naxalite-Maoists in the Central Indian States of Chhattisgarh and Madhya Pradesh.
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